SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Approval of a corporate debtor's resolution plan was held not to ipso facto discharge a third-party security provider/surety from contractual liability. The plan expressly preserved financial creditors' rights against third parties, including existing promoters/security providers, in respect of the "unsustainable debt," while stipulating that any claim by such third parties against the corporate debtor or resolution applicant arising from invocation/enforcement of the security would be settled at NIL value. On this construction, the plan did not extinguish the entire debt so as to bar creditor claims against the third-party security provider. The appeal was dismissed. - SC
Approval of a corporate debtor's resolution plan was held not to ipso facto discharge a third-party security provider/surety from contractual liability. The plan expressly preserved financial creditors' rights against third parties, including existing promoters/security providers, in respect of the "unsustainable debt," while stipulating that any claim by such third parties against the corporate debtor or resolution applicant arising from invocation/enforcement of the security would be settled at NIL value. On this construction, the plan did not extinguish the entire debt so as to bar creditor claims against the third-party security provider. The appeal was dismissed. - SC
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